China's political, economic and foreign policy over the next decade is not only fundamental to the country itself, but also to the wider Asia-Pacific region and – increasingly -- the world beyond.

China already represents 16 percent of global gross domestic product (GDP), rising to 28 percent by 2030. China is also by far the world's largest emitter of greenhouse gases. Furthermore, continued maritime boundary disputes in both the East and South China seas are a significant continuing factor in the region's underlining strategic instability. How China deals with each of these challenges is therefore of significance to us all.

"...[T]he best we can aim for is to revive the wisdom of the original Zhou-Tanaka formula. One way of doing this, as some have suggested, might be to declare the islands a maritime ecological preserve dedicated to the larger good of the region. There would be no habitation and no military use of the islands or the surrounding seas. Ideally, China and Japan would agree, but that may be unlikely in the current climate. Other mechanisms could be explored to produce the same end."